The Charles Schwab Co. (NYSE:SCHW) Stake Trimmed by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 60,424 shares of the financial services provider’s stock after selling 4,488 shares during the period. Pittenger & Anderson Inc.’s holdings in Charles Schwab were worth $4,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Charles Schwab by 26.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after purchasing an additional 6,195,934 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Charles Schwab by 186.2% in the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after acquiring an additional 4,624,302 shares during the last quarter. Van ECK Associates Corp grew its position in Charles Schwab by 134.3% in the third quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after acquiring an additional 3,038,517 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Charles Schwab by 31.1% during the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock worth $397,877,000 after purchasing an additional 1,717,137 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Charles Schwab by 3,123.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock valued at $74,686,000 after purchasing an additional 1,318,203 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Charles Schwab stock traded down $0.30 during mid-day trading on Thursday, hitting $74.89. 6,372,471 shares of the company were exchanged, compared to its average volume of 7,758,828. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average of $69.27 and a 200 day moving average of $63.60. The company has a market capitalization of $133.01 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.34%. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the sale, the chairman now owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total value of $6,661,700.50. Following the transaction, the chairman now owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 389,167 shares of company stock valued at $26,987,035. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Raymond James reduced their target price on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, January 18th. Piper Sandler lifted their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. TD Cowen upped their price objective on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $71.00 target price (up from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.47.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.